BTC will soon finish Wave 5 and C Down then blastoff !
I'm not going to call you Dear Friends and say I love you because that's just horse-pucky. I've never even met you. You could be a complete asshat for all I know. :D
At any rate, I will still be more than happy to share my last chart before the bottom arrives. As my chart will illustrate I think we are at the end of Wave 5 and Wave C of the correction with the final target area in the green box. If you want the very extremes of where we could turn I would have to say between $6K down to $5K. My plan is to target the middle of that range with a few small fills at each extreme.
This is not trading advice, I'm just sharing my thoughts and what I'd like to do with my next major trade.
Good luck in whatever you do!
Small correction: The chart text should read "1.5 times the last Wave 1" Not Wave 5. I am actually estimating the length on the final Wave 5 by measuring the length of Wave 1. In this case about 1.5 times also perfectly aligns with previous support on the chart so that is what I used. Often it is about 1.6 times. Close enough IMO.
At any rate, I will still be more than happy to share my last chart before the bottom arrives. As my chart will illustrate I think we are at the end of Wave 5 and Wave C of the correction with the final target area in the green box. If you want the very extremes of where we could turn I would have to say between $6K down to $5K. My plan is to target the middle of that range with a few small fills at each extreme.
This is not trading advice, I'm just sharing my thoughts and what I'd like to do with my next major trade.
Good luck in whatever you do!
Small correction: The chart text should read "1.5 times the last Wave 1" Not Wave 5. I am actually estimating the length on the final Wave 5 by measuring the length of Wave 1. In this case about 1.5 times also perfectly aligns with previous support on the chart so that is what I used. Often it is about 1.6 times. Close enough IMO.
Comment:
Cool! My opinion (IMO) is already up .70% That's too funny.
Trade active:
Pattern BLOWN !
The rocket shot this morning was either because wave 5 and C had already terminated at support, or it was a failed fifth as they call it. Either way, it is obvious the price is NOT going to follow the chart expectation above.
I was fortunate enough to cancel my orders in the 5K range and replace them with a fill under $7K.
I'm currently LONG and will remain so for at least the near term. If this thing gets legs there are a LOT of shorts that will need to cover. Good luck getting your orders filled!
The rocket shot this morning was either because wave 5 and C had already terminated at support, or it was a failed fifth as they call it. Either way, it is obvious the price is NOT going to follow the chart expectation above.
I was fortunate enough to cancel my orders in the 5K range and replace them with a fill under $7K.
I'm currently LONG and will remain so for at least the near term. If this thing gets legs there are a LOT of shorts that will need to cover. Good luck getting your orders filled!
Trade closed: target reached:
I closed out my long this morning at $8,190 which looks to be the top of a new bear channel. Sitting 100% in cash until the next opportunity to go long develops.
Comment:
A larger view of the new bear channel.